Transnational Corporation of Nigeria

Last updated
Transnational Corporation plc
Company typeConglomerate
Industry Energy, Power, Hospitality
Headquarters Lagos, Lagos State, Nigeria
Key people
ProductsHotels, energy, power
Website transcorpgroup.com

Transnational Corporation plc (or Transcorp Group), is a diversified conglomerate with strategic investments and core interests in the hospitality, agribusiness and energy sectors. [1] A publicly quoted conglomerate with a diversified shareholders base of about 300,000 investors, its notable assets include Transcorp Hotels plc owner of Transcorp Hilton Hotel, Abuja and Aura by Transcorp Hotels; Transcorp Power Plc and Transcorp Energy Limited (operator of OPL 281 and AEDC). [2] As at 2023, Transcorp Group’s market capitalization is in excess of N540bn. [3]

Contents

Origin

Transnational Corporation Plc was incorporated on 16 November 2004. The original concept was that Transcorp would be a conglomerate, similar to the South Korean chaebol conglomerates. [4]

Transcorp's businesses

Acquisitions

Recent partnerships

On 30 January 2013, Transnational Corporation of Nigeria plc and General Electric (GE) signed a framework agreement to collaborate to address the infrastructural needs of Nigeria, with emphasis on the power and transportation sectors specifically rail transportation. [18] GE, a global leader in the design, manufacture, supply, installation and maintenance of technology and services for the power sector, confirmed its commitment to facilitate the generation of 10,000MW of additional power in Nigeria over the next decade in line with its existing agreement with the Federal Government of Nigeria, signed in March 2012. [19]

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References

  1. ↑ "Transcorp's resurgence and challenges ahead :: The Economy Magazine". Archived from the original on 2012-07-22. Retrieved 2012-03-15.
  2. ↑ "Transcorp and Partners Revise Oil License Agreement" . Retrieved 2017-08-29.
  3. ↑ "Tony Elumelu's Transcorp acquires 60% stake in Abuja DisCo". vanguardngr.com. Vanguard Nigeria. 2023-08-17.
  4. ↑ "Transcorp's resurgence and challenges ahead :: The Economy Magazine". Archived from the original on 2012-07-22. Retrieved 2012-03-15.
  5. ↑ "Transcorp Hilton Wins 3 Awards To Seal Reputation In Hospitality Industry" . Retrieved 2024-06-28.
  6. ↑ "Nigeria's Transcorp Hotels Goes Asset-Light With New Airbnb-Style Booking App - Skift". 2021-07-30. Retrieved 2024-06-28.
  7. ↑ "Transcorp Plans 5,000 Capacity Event Centre, $200m Lagos Hotel" . Retrieved 2024-06-28.
  8. ↑ "Transcorp, 14 Firms Sign Agreement to Take over Discos, Gencos, Articles | THISDAY LIVE". Archived from the original on 2013-02-25. Retrieved 2013-03-14.
  9. ↑ "Transcorp's resurgence and challenges ahead :: The Economy Magazine". Archived from the original on 2012-07-22. Retrieved 2012-03-15.
  10. ↑ Iriekpen, Davidson (2010-06-28). "Nigeria: Court Restrains FG, Transcorp From Evicting Tenants". This Day (Lagos). Retrieved 2017-08-29.
  11. ↑ "InvestAdvocate - Market News::...In Your Interest". InvestAdvocate. Retrieved 2017-08-29.
  12. ↑ "Nigeria HomePage - Breaking News, Business, Sports, Entertainment and Video News". www.thenigerianvoice.com. Retrieved 2017-08-29.
  13. ↑ Unknown [ permanent dead link ]
  14. ↑ "The Guardian Nigeria Newspaper – Nigeria and World News". www.ngrguardiannews.com. Retrieved 2017-08-29.
  15. ↑ "Transcorp takes over Ughelli power plant - Vanguard News". Vanguard News. 2013-11-04. Retrieved 2017-08-29.
  16. ↑ "Transcorp acquires 60% stake in Abuja DisCo". vanguardngr.com. 2023-08-18.
  17. ↑ "Transcorp-led consortium acquires 60% stake in Abuja DisCo". 17 August 2023.
  18. ↑ "General Electric, Transcorp Target 650mw from Ughelli Power Plant, Articles | THISDAY LIVE". Archived from the original on 2013-02-02. Retrieved 2013-02-27.
  19. ↑ "General Electric, Transcorp Target 650mw from Ughelli Power Plant, Articles | THISDAY LIVE". Archived from the original on 2013-02-02. Retrieved 2013-02-27.
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